HRMY - Earnings call transcript Q1 2021 | Harmony Biosciences Holdings, Inc.

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Operator

Ladies and gentlemen, thank you for standing by. And welcome to the Harmony Biosciences First Quarter 2021 Financial Update Call. At this time, all participant lines are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator instructions] Please be advised that today's conference is being recorded. Instructions]. [Operator like Caperelli, conference Investor now host to hand Lisa today, Relations. to would over the your I Please go ahead.

Lisa Caperelli

Harmony XXXX Thank you, updates. us review joining thank you first operator. Good morning, today everyone as provide performance and financial and for Biosciences' business quarter we

we and to to measures. slides a our today, section encourage that the better to find reconciliation everyone Biosciences of economics our we stage represent cycle, financial including GAAP this financial the accompany At Harmony website I to of the business. begin, Investors our Before life go the of press non-GAAP of non-GAAP the release discussion company believe results

Officer; today's on Dr. Chief Jeffrey presenters and Jeffrey Our Chief Dayno, Commercial Officer; Sandip Officer. Financial are and Kapadia, John Jacobs, President Medical CEO; Chief call Dierks,

Moving to X. Slide

we differ reminder, These and expectations which and uncertainties, actual making our to forward-looking factors and to call over materially. risks At Jacobs. be beliefs. on like the based turn encourage will certain for discussed statements to this our are our time, the CEO, details. may a today, current filings SEC you statements John? subject are to As John additional I our I'd in consult risk results

John Jacobs

share pandemic, for history. anticipated the the delivered XXXX payer despite revenues and time Lisa. these sales with introduction, QX $XX a you you strong first-in-class for focused to company differentiated beginning the inception all that living products people with also in and joining demand thank like We that each our to impact year. have by underscores seasonal challenges rare profitability of reported for Since I Thank the novel the addressing once significant needs this approximately meaningfully we of as the due the neurological We in developing that neurological first XXXX with with branded living of the products medical at therapeutic unmet for lingering continued And people diseases. on dynamics I marketing conference is this pleased morning. narcolepsy and performance market, first first am strong WAKIX, we driven would quarter WAKIX all our condition. and again, million our WAKIX insurance XXXX, rare for achieved believe in in for participants largely call this resets options to our quarter, of for results specialty

continue our healthcare Harmony's X expand our growth on net dystrophy. QX We and and which our our pillar patients on this of of execute number three myotonic seen utility is year, million while revenues to robust Our well positioned pillars driven $XX.X which WAKIX. patients in trials. we of commitment these Prader-Willi the in reported and the to optimize are Slide of performance acquire pillar the continue populations by of that is are to have assets average strong the growth saw new commercial WAKIX. never in one, include: narcolepsy, in programs programs, three, to we to Phase By patients including professionals and indications. clinical healthcare number expect have to utility since WAKIX, investigating pitolisant faltered. WAKIX of we clinical to mid-year the of launch. expand number our new prescribing And to patients professionals new Syndrome investigators the involved sales new and to for an WAKIX portfolio. with by two, hard-working Pillar clinic potential X clinical into designed expand momentum trajectory patients beyond employees, Harmony The on patient has XXXX progress success significant our continued driven narcolepsy With has expanding WAKIX the and And cash help position, making the of embraced XXXX. and

focused is assets within which team expand for area potential to expertise dedicated on a our our in pipeline. have acquisition identifying order of new We

we we unnecessary to on to million our to now pitolisant. quarter lifecycle, like you more are core the in company sales our and am to the with in to have and our business company. sheet, summary, execute early grow cash time continue continued without In call I Jeff? forward over having Officer. on positioned Jeff distraction well progress $XXX Commercial process Chief be look With advance starting pleased our are Dierks, approach reached positive our cash than thoughtful this well equivalents as to updated to I three-pillar act. performance with the now strategy We first keeping so and very and we would in turn the to growth balance our our profitability, to

Jeff Dierks

continue consecutive John. fifth achieved strong I impressed of and with Net net on revenue we've representing be indicated strong momentum the were and growth. performance Slide to launch, demonstrating our as the $XX.X quarter first by Thanks, performance million, quarter our for noted X. through progress quarter of as revenues another

on Slide Moving to X.

qX to metrics. commercial like I'd our performance For a key few results, highlight

increase growth WAKIX. through patients of cataplexy overall the the indication, profile access the the increased of have WAKIX the the value the patients volume the represents Medicaid XXXX access insurance continue to continue the the healthcare Market first approximate Type added quarter. first of approximately the XX% product WAKIX healthcare than the more profile. prescriber WAKIX for demonstrating XXXX, population. who for professionals to quarter. X We commercial narcolepsy to of of the WAKIX average cataplexy or This indication narcolepsy approximately since approval continues And for In XXXX. This diagnosed to risk in XXXX respect And requests prescription WAKIX with increase number to WAKIX with base end subsequent for additional on strong demonstrates narcolepsy continued WAKIX cataplexy benefit the October continued be of of to strong. of and the patient indication and average first formulary with increase across differentiated favorable The We've maintained patients. plans. launch meaningfully professionals see of quarter, the continued to to to prescribed cataplexy, unique demand number and treat strong access Medicare

Additional positive accelerate for decisions ability managed building plans made XXXX, to WAKIX. changes qX in patients further QX, formulary helping saw the get access we upon Type to care patient's X in to

no Now, how prior is address treatment to profile research indicated were in excitement WAKIX, for approved the WAKIX significant is And tablet A there awakening. X what novel patient-friendly in box through statistically in molecule heard needs of and the only a of program. two market. cataplexy. offers unmet was convenient WAKIX shows agonist in need studies. rems the we the by options. a market warning FDA WAKIX safety need drug daytime only differentiated from an non-scheduled the in for the to the EDS we aligned for and morning and and Phase first-in-class There antagonists, treatment approval the non-scheduled of need demonstrated Narcolepsy in not of was the no or tolerable effective product with inverse frequently needs. withdrawal once novel more for stimulant, sleepiness, need a daily for options, those has cataplexy of that selective approved for with and the profile importance trials, there symptoms clinical And WAKIX unmet administration options. reduction heard for first FDA treatment of Slide Community, to known dosing. need a MOA, excessive the narcolepsy. oral more established as no WAKIX EDS clinical tolerance evidence less X order upon also action, treatment WAKIX HX receptor mechanisms number or WAKIX of In

professionals patients to approved approval their same lower broad cataplexy clinical patients stated Harmony the being offers the well understand and of prescribing increased recently patients. the received on Now the is the X, wanted profile to overall prescribing market of with narcolepsy of including those HCP having of view was prescribe prescribed. experience. of even expectations needs being stated WAKIX, the year, those increased and the of we had and demonstrating and WAKIX and healthcare healthcare patients. and the product over stated professionals, a patients WAKIX as commissioned increase XX professionals. research with XX without patients WAKIX significant effectiveness majority and shared vast surveyed higher perceptions effective WAKIX in of a EDS, in and for treating is other by narcolepsy with WAKIX More need behalf the WAKIX prescribing and their with treatments. cataplexy WAKIX WAKIX there and key for of for Slide benefit or more XX% healthcare being yet on unique stated narcolepsy professionals. experienced healthcare compared all who meeting cataplexy unmet We the received rate since WAKIX their And to experience of expecting care the not from than that WAKIX more risk indication, HCP is for the that in XX% insights healthcare nearly it they're cataplexy. utility And shows narcolepsy surveyed offers Health effective use that the and XX% professionals has suitable professionals the that patients. for market, narcolepsy option pain narcolepsy is discontinuation of in the indication. stated shared that surveyed the treatment since WAKIX, was for future. a than how a majority XX% the believe EDS had And

with the stated moving learning about Patient WAKIX continue and overall surveyed and to they good Patient of WAKIX treatments. take this WAKIX. XX% XX% patients from that on perspective, not of better other weeks. narcolepsy to to users we what prior shared they the has patients' in expect market research and even experience reinforces accessing in the an product WAKIX presentation for communicated to of opportunity Dr. with We growth people strong patient WAKIX the to on only interest strong believe with and Chief WAKIX, shared summary, the to performance. a increased And living likely the narcolepsy now of Jeff first the strong, had living program. in of tell Now also medications extremely turn feedback surveys narcolepsy the The indication. experience is the on heard they're approval approval other about, X. meaningfully XX% the cataplexy the that of Slide Medical of of reinforces and needs potential quarter but growth meeting our market the of Officer development patients. revenue saw for Dayno, the proud profile research in market our I'll update Jeff? with future number growth our is potential demonstrates narcolepsy. XXX,XXX an large over future people market the I'm and clinical WAKIX, average unmet In how highlights differentiated WAKIX.

Jeff Dayno

everyone. At clinical pursuing of our unmet morning good to needs, patients. utility in pitolisant is And of strategy Harmony, the expand narcolepsy include Thank label the by disorders, rare with indications second additional Jeff. orphan you, and in expanding pillar the growth by medical pediatric neurological to new

number United number shown in to a patients daytime most indications option committed Type is the five form new Our PWS or community. XX,XXX which pursuing in to enrolling most Harmony dominant patient effects medical for are with of Prader-Willi with been onset equates X, current suggests muscular approximately inherited development Latest in Syndrome to pattern. myotonic highlighted in opportunity pipeline DM, per defect pitolisant or larger and a the one is and treatment over market development have and current in additional patients with common another PWS. And XX,XXX Based with DMX, U.S. is is all presentation, myotonic and Of clinical This these, estimate and is neurological people dystrophy seen for is dystrophy. also unmet XX% form potential one on a patients XX,XXX diagnosed report on XX,XXX. experience DMX common this in U.S. with prevalence That this being chart an trial by behavioral our This X. EDS, represents disorders, excessive a of XXX,XXX for function. is programs Phase programs. DMX. to the the patients are likely being those sites With The of new regard which as activated or rare currently with sleepiness A sleepiness trial on an our excessive XX% a the people which or our pursuing cognitive for dystrophy autosomal people of symptoms about adult disorder evaluating this to XX% XX% that of Slide need disorder. about XX% approximately impaired daytime orphan X fatigue. about of the population in of being States for in defect genetic genetic symptomatic, genetic diagnosed.

with EDS high also functioning. So their are are and approved common DMX symptoms impact for most and they two non-muscular myotonic daily on dystrophy. currently patients with the treatments in fatigue There no a have patients

from quarter. heard to and we release, are john, you this so today's As in on Phase X initiate on press DMX a with patients trial track

me let in pediatric our narcolepsy. Now, comment on program

Our pediatric to has pediatric been EDS and strategy narcolepsy respect always achieve for to to obtain cataplexy both exclusivity. with and pediatric indications

financial how trial, Phase the partner of As the and pushed the Together, to protocol pediatric indication, clinical with the inform that providing coming to decision advance in to program. pursue are X well Harmony exclusivity for as We In has for this advancing with regulatory before strategic readout for continuing exclusivity. data. Bioprojet a the as thoughtful forward regard wait pediatric you the are the Bioprojet completion WAKIX. and meantime, this obtaining pediatric development the clinical trial decided from pitolisant committed for aware, the wait pediatric amended remain to to and pediatric which an status most in We perspective. timeline pediatric believe continue patients the been evaluating in of narcolepsy strategic trial on the strategies prudent our to our is path evaluate to patients and to to of increase to out program update narcolepsy. and We the of program forward have a seek with best the data months. has and we look conducting patients this Bioprojet narcolepsy number data readout

The which at analysis, EDS comment symptom in was highlight which was High efficacy this ESS address Sleep this patients and clinically and compared to post-hoc HARMONY analyses with score at trials or or Sleepiness the meaningful on journal burden data statistically that from help weekly burden significant examined symptoms, HARMONY severe attacks efficacious from on showed like XX.X at we month, enhance specifically XX of last with its and to an end of at XX.X at patients pivotal that the and onset at action. WAKIX this placebo, Medicine high the Annual meaningful to the study. cataplexy placebo, XX.X analysis published a clinically cataplexy. even patients Again greater was At to at published profile or patients cataplexy The from patients the greater end would data pitolisant Medicine of patients This I earlier on few of Epworth data a at are Neurology Scale as And to Sleep of XX. efficacy baseline the key and burden. patients patients. high represents that went of for with XX WAKIX in time WAKIX, the the resulting XX placebo. defined a that CTP analysis of analyses American EDS baseline I symptom High at results at patients with conducted points of baseline data in study. ESS of XX and was narcolepsy X.X. the compared recently end statistically cataplexy, score and of demonstrates patients went defined improvement Lastly, and patients understanding cataplexy earlier This patients of pivotal on included This went finding that reducing symptom seen in significant the compared that XX Academy per in WAKIX patients. a a to equal baseline with XX.X onset number who on WAKIX both with XX.X to journal a from Meeting both of for X improvement. other end This for post-hoc EDS year. at of who to baseline. high equal The is symptom was year. than burden in with to first high to and went from for adult response WAKIX from burden looked disease. baseline. relevant We of XXX burden as on rate will results to in from an results Slide endpoints clinically improving the included product week in narcolepsy, study, presented related show from on The of to analysis study,

analysis the of These and Onset a time recently pitolisant This analysis and as response a when presented significant reduction Moving score weekly rate continue at Neurology of cataplexy. there of Academy in number was at separation showed after and in the XX, placebo. Then which point response trials. month. significant to to first duration time improvement cataplexy last were the of both defined the dosing, begins the difference WAKIX. that demonstrated on to Meeting start the data the American was statistically the placebo, Slide from WAKIX improve which of onset of that for to clinical Annual and statistically is ESS we throughout EDS between

attacks the weeks This analysis information week as WAKIX may these believe week prescribing I pitolisant experienced of it effect the and of treatment clinical early eight, the the that mechanism pitolisant status, profile, adult its lifecycle treatment. as cataplexy option While pitolisant. on safety for narcolepsy. remain have on outcomes, Based committed after in view patients as patients data living in eight product And WAKIX profile with that our a and in for pitolisant. for medical for well to performance, financial pitolisant our both efficacy of on be the two the of populations, may its to unique to disease unmet as the we development goal with non-scheduled with the improving provide call EDS additional plan experience results management a who you. to differentiated and of update in will to and over shows turn add being optimize closing, states as programs rare is clinically support opportunity. will portfolio up take new to relevant in prior some we community of along we to indications Sandip? start I patient reducing the focused for shared action, neurological response. advancing that the These evidence who tolerability medical Kapadia, living now our of analyses In are And body Thank orphan an needs. with our a CFO clinical Sandip a of pursuit

Sandip Kapadia

to Thank opportunity details today, meeting for you, like Jeff. look and join of excited we and our on morning, And our XX-Q, quarter you earnings find where quarter. of the income per on from to grew Harmony which sales highest our many and has positive XXXX some expenses, to pleased net XX the managed everyone. and forward first into you posted quarter-to-date, financial first I'd of to take see good operating quarter quarter XXXX press the continued first you. WAKIX momentum our quarter I'm our to Biosciences that seen and release be results XX. can highlights Slide from operating Earlier filed share share. posted our the the XXXX. to We and the can I'm with

revenues, typical and the We're to with quarter $XX.X prior WAKIX continued reauthorizations year headwinds million the growth revenues, Harmony first quarter, there XXXX, the quarter. sequential in compared $XX.X as resetting. especially are For insurance in copays posted million net from first of in pleased the as product of

average as increase well an see therapy first of professionals of during the quarter, the number to continue healthcare number WAKIX. patients We on in as prescribing

year cost million, the of For were quarter. $XX.X X.X in quarter million the XXXX first versus prior sold product

and pipeline operating $XX quarter of our XXXX year expenses WAKIX million, quarter company. was advanced marketing DM, became $XX.X PWS programs were expanded in increased sales launch up The first the in and XXXX, anticipated GAAP activities as associated the our operations increase significantly of we the versus with million. as a we For prior public

first of reported operating or million the compares GAAP quarter income first XXXX, with Harmony $X.XX adjusted I'm the our expense, non-GAAP quarter of net per non-operating business. release to posted shares. of pleased the Non-GAAP million adjusted Non-GAAP amortization measure. for $XX.X other share. For non-GAAP also or of diluted income this per interest favorably $XX.X year's of last adjusted net underlying press reconciliation compensation stock-based depreciation, $X.X share. net Harmony $X.XX profitability This net Please items. of net loss financial a $X.XX a or is excludes income and see million measure. income per

$XXX.X January, to by a to down million. also operations. We in we position $XXX milestone, positive Bioprojet due is This primarily year-end closed quarter offset the million in cash strong sequentially the XXXX, with early remitted from from flow cash

our over looking So investments continue profitability launch in we All quarter while Bioprojet. to strong year. maintaining sales of we ahead expect see continue in the to growth, and incremental make to the for XXXX, quarter the pipeline, as

rare to with early to focus on a opportunities pipeline and review neurological that on our orphan Bioprojet, a with months clinical disruption while launch few XX We're and business disciplined to development. in commercial the the focused disorders. additional determined Finally, After our demonstrated address now approach a WAKIX the broaden our ranging a leveraging assets expertise, we're launch. commercial taking approach last successful ensuring spending of clinical minimizing to commercial from on strategy words

we with control progress while intend to business be addition, look our to We continuing calls. costs. our forward providing on to financial development updates opportunistic future existing our In resources

growing control with balance. a healthy prudent position financial and strong a in revenues, is Harmony conclusion, in So expense

deliver continue call. in earlier pillars mentioned we're growth our three that such, to of well-positioned the on As John to

for that, I'd remarks, call John? back turn like the John closing with So to to his

John Jacobs

am the of was our consecutive very representing sequential three growth. summary, and entire revenue pleased quarter an Thank you, progress outstanding pillars on team QX quarter, our In growth. with fifth continued Sandip, for I of dedication. harmony your our continued

Prader-Willi cash in We the the reached of will myotonic for Syndrome in questions assets development advance have now well our from take third success are audience? we in programs our pillar history, Operator, and acquiring growth, our continue positions expand Financially additional strong as to company to and This dystrophy. our position, a we profitability. to pipeline. first pursue time

Operator

[Operator you. first on question of Sandler. Amsellem Instructions] Thank Our David comes line Piper the with

Your now open. line is

David Amsellem

Hey, thanks.

couple. So just a

first, So success. position to do what fairly high-level you your of it. think versus talk aggressive the in this XQ to talked on how ask terms can headwinds payer about So the wanted And that Xywav for you aggressively mind, that, in Thanks. space. seasonality, here, extent on thoughts cadence contracting do to with that's two across gross down space, to some your say Jazz the terms the an get number some about And the contracting you need for for think is number contracted one. more you just apples-to-apples road moderation With then contracting net? that and sales XQ And of means Obviously that the reason you but about in are WAKIX? is, I year. customary for in things of not has with comparison

John Jacobs

Hey, David's Jeff, take first you why don't question?

Jeff Dierks

you the David. question. for Good morning, Thank

coverage WAKIX, that D favorable lives cataplexy step since U.S. access recent insured commercial in indication, shared approximately that So we we've of we've we've lives. of calls, some seen we've the the even since with for Part either market approval really managed that care, pleased eliminating coverage and XX% is the as launch. seen Type access all with secured seen WAKIX Medicare, the on And of reducing those QX. respect extremely in with to across doing we're previous X or And what edits additional building And Medicaid. for favorable

And so positioned we well patients. believe market landscape within access support our we're to very the

market. a need in of do We seeing with that aggressive for there that a been will we've what believe profile the of not benefit handful WAKIX plans given risk contracting, we be overall the and have selectively contracted

to that your turn the if to So with that, question, Sandip with I question over of cadence sales. and can answers second it on respect your part answer

John Jacobs

Go Sandip. Yeah. ahead,

Sandip Kapadia

really solid dry placement million growth really Yeah, versus had [ph] quarter a $XX.X hi. fourth top-line prior year. quarter We of and versus revenue, certainly strong in

As growth And that for have of go we through growth headwinds, you as which year. the expect, slightly strong balance that year. in quarter. reversing quarter in the mentioned, in obviously quarter-over-quarter see the rest of first results We typically, we the the higher first we

pleased very, we well-positioned year as the think, balance Hopefully of of some the you very So there. came with how I color out gives for that QX. And well.

David Amsellem

No, how big you're I you an looking business just willing of us in sneak Can talking more lot really about different a But, - size? sense pipeline? aggressive in If may can of potential one that's to just and for at ask more a of be Yeah. go for helpful. it's stage on terms deal how give I one answer, you're probably assets. commercial while. asset, Obviously, know or that's tough development whether that M&A. a you've been one a to you

Sandip Kapadia

is our say pipeline we're David, what I to will with additional assets. determined broaden

stated, in history. company you've starting early our As we're

the expertise. to we acquire, We're a acquire arena the that. we that do this leverage sure know to - we thoughtfully. it us that sure reasons we right last how do where the internal now strong to time and that in should whatever of make public rare now. capability it's And to synergy, neurological now. well. very right And want our and infrastructure cash to one take can Harmony, we And certainly, have at we that want our to make be go we right what current we year. that orphan that's And it deployed have So what in the position do infrastructure CNS allows to chose we complimentary And

Harmony. when do how have for deal we the We optionality find a to on potential deal finance correct

David Amsellem

great. Thanks. Okay. That's

Operator

you. Thank

comes Jefferies. next the Chris of with Our question Howerton from line

line Your is now open.

Chris Howerton

everybody. Hi. And this the quarter. on morning, questions. Good Thanks so the for much congratulations progress taking

with can all, what shape WAKIX? to as likely to one. So sense by patients pediatric have I to it from that for guess, questions with of just or take such diagnosis thoughts is a be, you respect become couple I the if maybe, the just study respect when to what some to Dayno. be terms I a And mostly So think diagnosis? me, give us of does And related first in question then would you that that just therapies two question trajectory was of and if Jeff available described rate dystrophy, if might Bioprojet. narcolepsy maybe myotonic as that obtain guess those

if we might timelines more that study? reiteration can color, were of have missed we the point? could terms at to a just curious get in you. know of Just maybe this about And little what what exactly the Thank headwinds I it a

Jeff Dayno

Sure, Good question. Thanks the Chris. morning. Yeah. for

So dystrophy, a to dominant myotonic And genetic disorder. the an it's regards inherited diagnosis, in it's so autosomal pattern. with

that and symptoms the those excessive daytime muscle So confirmed. recognized it's disorder and XX% muscle is to fatigue basically what's called problems patients. non-muscular sleepiness diagnosis the over years the two more Symptoms results most a genetic diagnosis, myotonia, we've that's what which difficulty in learned relaxing include EDS, so of as are - how the is common the XX% But in also weakness.

through it disease a medical bring sponsors becomes attention there early-XXs. late to treatments. of and to neurologist. genetic to time recognized, a this time, arena, the XX, - protein. getting into to chromosome more step regards basically journey new as Defect certain And for with with any onset dystrophy. think come of working increase. we state they then attention, Then is So, are then, said, regards I is are symptoms bit diagnosis usually confirmed, and long over into eventually as And to no a testing. a and it will over There But rates is options myotonic approved awareness, more I treatment diagnosis diagnosis as because on other adolescence on

So Chris for question, does myotonic that answer your dystrophy?

Chris Howerton

many screening. it that for just follow abnormalities, noticed a at Yeah, newborn might If that I ask is I that, genetic up does. to quick least maybe there's

about any a defect So in such is to detected there genetic discussion that potential manner? for be the

Jeff Dayno

Type have we epidemiologic of panels. screening latest form a from of terms is which genetic dystrophy. from DMX, actually State included a or common It a patients some the that most we York dystrophy and the it's Chris, in cited large about New U.S. great XXX,XXX screening, from their with question. Health - newborn comes which in study the what the myotonic myotonic is is defect Department of on The newborn data of X potentially

similar greater is medical there the hopefully There diagnosis. opportunity is the much So then life. with earlier And of screening. earlier rare orphan up in to genetic defects community, genetic terms the awareness with pick other to leading in in disorders

Chris Howerton

good. Okay, all Very right.

Jeff Dayno

about question with Bioprojet your little more color. and to a narcolepsy turning to study pediatric regards So,

read remain committed Bioprojet's to before with So me was trial patients our to And first, beginning let to pediatric own narcolepsy we plan out wait for say, pediatric narcolepsy. it trial. always our

the in earlier as delay a is of I the and amended that trial. So they sort protocol, robust. in and Bioprojet's protocol sample mentioned to the increased the Basically comments. delayed. study, led in of trial to amended the make my readout They the And size the more

which and a with decision along makes sense we the original it to readout starting own, trial for data this wait to to think our let approach And the the made plan. going some before partner Bioprojet wait before X was Phase working the data that's a So, thoughtful. we're trial, most to that And initiating At our optionality. point, to forward. partner inform our us another I end. with our Bioprojet, strategic provide We feel for prudent us and

And that obtaining on remain that an population So coming update we provide committed on months pediatric the the we'll program. in to indication.

Chris Howerton

Okay.

difficult become be available. the to at expected And may it's when And that'll update this data those maybe? say so point,

Jeff Dayno

expected Yes. be coming months. the That'll the in update

Chris Howerton

it. Got

very Well, it. right. Appreciate Jeff. you thank All much, Okay.

Jeff Dayno

Chris. Thanks,

Operator

you. Thank

the question Goldman Suvannavejh from with comes last Sachs. Graig of line Our

Your now is line open.

Graig Suvannavejh

on everyone. morning, But nice of the commercial the for the And good and granularity number on on the couple a Hey, questions, slide could thanks taking average launch. the I details metrics WAKIX in of of had some deck. thanks your of ask questions you provide I patients just XXXX. my for and with progress

your compares about compares of think XXXX last quarter. about And I then with from unique that to XXXX the XXXX. prescribers

lost? given latest that with Patient ask sales? past good the you. on back forward WAKIX if you quarters. been to And provide if I hoping perhaps the trying could metrics. each was reopening be the you several with think relates we had for perspective some And to unemployment. I are follow some or getting then perhaps just question on some a recovery should where And could that of just it's focus sales a how So previously your see over a think, if as you or those Assistance the color rate regards I up you Thank update on what get on is Program, to going a dynamic evolving

Sandip Kapadia

those Thank handle you questions, Dierks, for for Greg? you two don't why Jeff Greg. those

Jeff Dierks

Sure. Good to Greg. from morning, Great you. hear

professionals number your since first of average patients unique number So respect healthcare question to prescribing with of on launch. and

clearly, we're QX. performance with pleased our extremely continued in So strong

prescribers. of of QX, in quarter stated, revenue and in we've fifth a average quarter-over-quarter. it saw demand, patients in growth As was average underlying of And patients about the number resulting a number increase of consecutive in we net unique really number strong in X%

recently professionals number on the unique number of shows patients increase average of seasonal And XX% healthcare that and with the an And to quarter one even that pandemic. about quarter-over-quarter. for growth grow WAKIX. noted and in strong growth continue You've expect seeing do we each pair WAKIX future of we is the number that dynamics XXXX. And key the the the research feel to outlook lingering prescribers during really average for

Physician of the for So more of healthcare effective patients. that cataplexy. that the an to believe stated their use vast XX% XX% patients WAKIX XX% EDS. in that future. And majority physicians of for physicians was option research appropriate shared increase in EDS. WAKIX the extremely for is it was same WAKIX of treatment professionals effective WAKIX prescribe stated strong narcolepsy than the the for or was expect demonstrated

but professionals in So we I going to to believe unique average providing are number and know expect of we that quarter each 'XX. we're healthcare grow not patients guidance,

that then And moving hopefully Assistance forward. growth Patient respect to just with helps your question first So Program. answer about second question asked you

reopening bit COVID of have related seen the little sort to and And vaccination. broader what we a

we the first speculate Program. relatively as less as of open And the that when you've have 'XX. been demonstrate quarter up. until consecutive pandemic shared patients have And continues to eligible strong we've assistance of program, net been And strong Assistance patients demand We It's be we support seen average consistent. as knowing to five able patient increased even difference with difficult in grow previously, reliance throughout net even for importantly, to our there on into revenues XXXX. to number So, growth the these Patient a to will demand. it's throughout to country this expect for in through that's conviction an And WAKIX do make the quarters, seen we our patients and lives. can this elevated continue certainly revenue

Graig Suvannavejh

I an previously. you prescribers able When Okay, thanks. we about think to been that If answer target. could follow gave just the on up you've

who thinking of guidance. prescribers As like, know relates terms of the a to out But XXXX I look calendar interactions Is as want narcolepsy? ability really face-to-face goal there a now. about XXXX? have should it in for in that I'm your might you be to for of XXXX from XXXX, number trying that you don't what to penetration patients do treat terms with those the figure just to we give

Jeff Dierks

the question, will appreciate to healthcare Greg. expectation the professionals. number our And that is we I unique continue grow No. of

universe. of healthcare about the represent overall unique XXXX XX% professionals target Our

to the profile we that seen of We've to the benefit that risk the broad believe overall penetrate WAKIX. utility continue so to group. And clinical significant and there's receptivity opportunity

We have are and that up COVID, are professionals' more with there opening seen seeing patients. healthcare offices

see a Field sales Sales to more of And person We are make certainly in in of benefit the launch. our starting Team, calls. in-person more you know education, especially

number guidance. do quarter-over-quarter grow we're to average expect providing of We not professionals the unique the number and healthcare XXXX. while throughout So

John Jacobs

Yeah, Greg, have as continue vaccinations COVID optimistic opportunity true feel - And for we United think get as throughout about I John. really States. the run-rate. to lifts We're the it's the a yet

need the get feedback getting us rest starts to and But hopefully isn't today they COVID excellent here demand. that their on a remains today lift I to demand these COVID. heard feeling think true-run is in the the underlying year, here disease we'll We're products. is Whether As a rate. much during anywhere. from and very strong better seen physicians what will living we're for before disease, with experience And patients are throughout you've patients from after help going our with this of them. space. this there tremendous be And there unmet chronic and And

way quarters, COVID next we'll to of we're as the into marketplace lift. be couple starts share get penetrate with excited the we to to you I as able So think the

Graig Suvannavejh

very thank you Okay, much.

Operator

Thank now Jacobs back closing for you. the will remarks. I There call are no further turn John questions. to

John Jacobs

of you our well launch today. joining for that WAKIX. on mission our who pillars again rare growth And patients business strategy, with appreciate three our you. as we are and which should living enable for to continue our grow that Thank Thanks us hope I can poised Harmony strong continued on help neurological we orphan that momentum to shareholder has execute us disorders. are to value

Operator

call. today's your participation. concludes for conference this gentlemen, Thank you and Ladies

You disconnect. may now

Harmony Biosciences (HRMY) 11 May 212021 Q1 Earnings call transcript